06 June 2016 Hong Kong enacts law to attract corporate treasury operations The Hong Kong Inland Revenue Bill 2015 (the Bill) was enacted on June 3, aimed at attracting multinational and mainland China enterprises to establish corporate treasury centres (CTCs) in Hong Kong by amending the current Inland Revenue Ordinance. The new law is essentially identical in terms to those of the Bill. The new law addresses the deduction for interest paid to overseas associated corporations and provides an 8.25% concessionary tax rate for qualifying profits of qualifying CTCs. Document ID: 2016-0974 |
